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What is our philosophy?
Our objective is to maintain your investment, maximize the return on your investment and to provide quality housing for our residents. We offer personalized and professional services through building relationships, using current technology, marketing strategies, implimenting a business system of honesty to all, and a goal to stay on top of the ever changing real estate market and laws.
Why use HomePro to Lease your home?
The owner and staff are professional, courteous, informed and experienced. Each property manager is a licensed NC Real Estate Broker. We can offer multiple services that would be cost effective. We have an effective marketing program, and strive to be abreast of the ever changing market and legal issues to protect our client’s interests. We provide a “live” 24 hour emergency maintenance line to handle maintenance emergency requests. If emergencies are not handled promptly, it could lead to larger problems, greater expense, and even increased liability for the owner.
What is our role as a property manager?
Our role is to Lease your home to the most qualified tenant, to preserve and increase the value of your property, and to generate a cash flow. Our duty is to market/advertise properties, screen tenants, negotiate leases, collect rent, maintain the premises, keep accurate records, provide reports and communicate issues with owners.
What types of properties does HomePro manage?
We manage all residential properties including single family homes, condominiums, townhomes, duplexes and apartments. We specialize in Northwest Guilford County and Southwest Rockingham County.
What are our expectations for leasable properties?
Legally, we must be in strict compliance with the NC Residential Rentals Agreement Act and the International Property Maintenance Code. Prior to offering a property for lease, we check to make sure they are clean and sanitary, doors and windows are operable and have secure functional locks. We ensure that the property is free from trash and debris, that the carpets are professionally cleaned, and that the property is free of insects and bugs. We make sure that each property has the appropriate number of smoke detectors with new batteries installed (NC legal requirement), carbon monoxide detectors (if required by law), the property is re-keyed (NC legal requirement), a new heat/air filter is in place, and a Certificate of Occupany issued by the City of Greensboro (when applicable). By establishing a high standard for new residents, this makes the move in process more pleasant and encourage the new tenant to respect and care for the property.
How do we market our vacant properties?
Advertising & Marketing
We market all of our properties in the most effective ways possible. Some of the ways in which we market our properties are as follows:
Yard Signs
This is the most important marketing tool we use. All rentals have yard signs and if allowable, directional signs to encourage drive by traffic.
www.HomeProHomes.com
All of our vacant properties are listed on our website, along with photos and detailed information about the property. Not only is our website available 24 hrs a day 7 days a week, it provides an online application for prospective tenants and mapping directions to properties. All properties are listed by price range.
Local Realtors
The owner of this company has 18+ years of experience working for real estate attorneys, and has been a NC licensed real estate agent since 1999. She also has many relationships with local Realtors and other professionals.
Relocation
We maintain a list of corporate relocation and human resources departments that we send our vacancy list. With the moderate weather & cost of living, the new Fed Ex hub, Honda Jet and Dell, more and more people are relocating to the triad area.
Photos
Both interior and exterior photographs are taken and posted on our website to maximum the marketing of your property.
Lockboxes
Lockboxes are placed on most vacant properties so that all local Realtors can show the properties, if needed.
Internet
We are member of the Greensboro Regional Realtors Association, the Multiple Listing Service and NC Association of Realtors which enables us to list your rental property on many systems and avenues. We also advertise on Rentals.com, Postlets.com, Oodles.com, Google Base, Hotpads, Enormo, Zillow, Backpage, DotHome, Trulia, Front Door, Vast, ByOwnerMLS, and many others.
Keys
In order to rent your property to prospective tenants, we have a safe and secure key check out process which allows immediate access to our properties.
Print
We have placed ads in The Rhinoceros Times and Greensboro News and Record. Upon request, we can customize a marketing plan for the client (which can be at an additional cost).
What are our fees to manage your property?
Typically, fees are 10% of the gross rental income or $75.00 per month, whichever is greater. We charge an initial set up/marketing fee of $200 per property. This fee covers the initial set up of the property in our database, meeting with the owner and marketing the property for rent. However, we do not charge for lease renewal, a lease close out fee at the end of management, nor do we charge a markup or handling fee on maintenance, and we do not charge a leasing fee for our full service management customers. MOST IMPORTANTLY, WE DO NOT CHARGE A MONTHLY FEE FOR VACANT PROPERTIES. We also have a program to accommodate owners who want to manage their own property, but do not want the hassle of marketing the property, handling all the calls and screening tenants. For more information about this program, please contact our office.
Is an expense reserve required?
We do reserve the right to retain $200.00 from rental proceeds. This money is to establish and maintain an expense reserve for unexpected expenses associated with the management or operation of the property. These funds are held in a Trust Account in compliance with the NC Trust Account Guidelines.
How do we handle the collection process?
All rents are due on the 1st of the month and are considered late on the 6th. Any resident that has not paid by the 6th of the month, we mail out a late notice which by NC law allows them 10 days to bring their rent current. If after that time and by the 18th of the month, the rent has not been paid, we initiate a Summary Ejectment (eviction) proceeding.
What are the court costs involved with A Summary Ejectment proceeding?
Court costs are determined by the court system and typically run a minimum of $85 and up, depending on the number of defendants. There is an Administration fee in all leases. This fee and the court costs are charged to the tenant. If the tenant does not pay these fees, they will be deducted from their security deposit.
When are rental proceeds deposited or mailed?
Monthly rental proceeds (equity distributions) are made on the Friday falling between the 20th and 27th day of each month. Net proceeds can be directly deposited into your account on that day through an electronic ACH transfer. If you elect to have your proceeds directly deposited, an ACH Authorization form must be signed and in our office files. Monthly statements are mailed at the end of every month and will include invoices for any maintenance items or additional charges.
How is maintenance handled?
Our goal is to provide a minimal amount of inconvenience to all of our residents by providing a “live” 24-hour emergency service as well as prompt non-emergency repair and maintenance. Non-emergency maintenance requests must be submitted in writing. Non-emergency requests are handled by vendors which are skilled, licensed, and insured subcontractors that we have long- term relationships with. Prompt maintenance not only provides a quality home, but also brings a greater rental rate for the owner.
What insurance is required?
We do require that owners carry a general liability insurance policy for the protection of any claims arising out of the operation, leasing, and maintenance of the property. We do require a valid certificate of insurance, listing HomePro Realty, Inc as an additional insured. Most homeowner’s insurance policies will do this at no additional cost.
What is done when a resident gives notice that they will be moving out?
• A letter is sent to the resident notifying them of their duties, including cleaning and yard care
• The property is placed in all of our marketing materials and a sign is placed at the property.
• The appropriate arrangements are made for the transfer of utilities.
What is done after a resident moves out?
• We will perform a move-out inspection of the property. Most inspections are done within the first five business days after vacancy. This inspection will determine any items that should be charged to the former resident, and will document any recommendations of items that need attention to preserve the value of the property and decrease the vacancy time. We document the condition of all our properties on paper and with digital pictures.
• We will supply you a summary of the inspection as soon as possible.
• Once all repairs and cleaning are completed, we allow prospective tenants to view the property.
What is the screening process for prospective residents?
• We perform a credit check, criminal background check, employment verification, verification of income/deposits, and rental/mortgage payment history on every adult (18 years or older) prospective tenant.
• We evaluate the debt to income ratio to determine the affordability of the tenant to Lease the property.
• Upon approval of an application, the prospective tenant is given 72 hours to sign the lease and pay the security deposit.
What happens before a new resident moves in?
• A move-in inspection is performed in which we document, both in pictures and writing, the condition of the property
• As required by law, all smoke detectors must be tested and the batteries replaced regardless of how new. New batteries will incur a cost of $12.50 each and new smoke detectors will incur a cost of $50 (hardwired smoke detector replacement may be more). This price includes materials and labor.
• Furnace filters will be changed, as needed. The cost is $12.50 per filter, unless there are unique in size or a special filter is required. Changing filters frequently helps to protect your investment, but sets the standard of expectation for new residents. All Leases require the tenant replace them at the end of their tenancy, as well as change them throughout their rental period.
• The property will be re-keyed to ensure safety and security of both the property and new resident (NC legal requirement)
• A light cleaning will be performed to the interior of the property a few days prior to move-in.
Do owners have to accept pets?
Pets are accepted on a case by case basis as determined by the owner. Our standard pet fee/pet deposit if $250 which can be refundable or non-refundable. Our history has shown that refundable pet deposits allow the tenant more incentive to prevent or repair any pet damages to the property.
How do we communicate with our owners?
We send out monthly statements, letters and emails in an effort to keep our clients informed. Additional communication will be required under the following circumstances:
• Summary ejectment (Eviction proceedings)
• Acceptable applications
• Notice to vacate from tenant
• Inspection Reports
• Lease renewals
• Extraordinary maintenance items
What will my property rent for?
Your lease rate is strongly determined by the condition of the property, location, and the rental rates for competing homes in the area. Unfortunately, the markets that dictate lease rates vary vastly from the markets that influence value of properties. By contacting our office, we can give you an estimate of your rental rate. However, without viewing the property, we cannot give you a determined amount.
Can HomePro help me buy or sell investment property?
We are licensed REALTORS and can assist you in the acquisition and disposition of investment property. Should you have an established relationship with another REALTOR, we can assist you by working with them to make the process smooth.
How are Security Deposits handled?
We always require a security deposit, normally this amount is equal to one month’s rent. As required by the NC Tenant Security Deposit Act, these funds are held in a separate escrow account at an insured bank within North Carolina. Security deposits cannot be disbursed until the resident vacates the premises. Once they vacate the premises, the Security Deposit can only be disbursed to the owner or resident.
Can I enter my property after it is rented?
All leases in North Carolina are governed by the NC Residential Rentals Agreement Act and provide for the covenant of quiet enjoyment. As a result, we do not enter the property and recommend the owner not enter the property except in emergency situations or when repairs have been requested by the resident. Past results have shown that repeated disturbances prompts a resident to become unhappy, and sometimes move at the end of their Lease. We usually try to give the resident 24 hours notice before we enter unless it is an emergency situation.
How much notice does a resident have to give before they can properly vacate a property?
Our lease provides that the resident give a minimum 30 day written notice that the lease will be terminated.
What does HomePro need to start managing my property?
In order for us to begin the process of managing your property we need the following:
• Executed property management agreement
• Keys to the property, including mail box keys, etc… (3 copies of each)
• Garage door openers, if applicable
• Certificate of insurance, with HomePro Realty, Inc. as an additional insured
• IRS form W-9
• ACH authorization form (if applicable)
• Lead Based Paint Disclosure Addenda, if the property was built prior to 1978
• Certificate of Inspection/Occupancy by the City of Greensboro (If we handle this procedure there will be an additional fee)
How do I pay management fees?
Management fees are deducted from your monthly rentals.
Additional Information?
Fill out the form below, and someone will be in touch with you personally either by email or telephone.
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